Bitcoin Rebounds Above $90K After Trump’s Tariff Delay

5 months ago 30

March 6, 2025 by Bena Ilyas

Bitcoin surged 5% to $91,612, driven by Trump’s tariff delay and U.S. dollar weakness.
Coinbase and MicroStrategy stocks rallied 4% and 12%, while Bitcoin’s Fear and Greed Index remained at 25.
Ricardo Salinas holds 70% of his $4B portfolio in BTC, highlighting rising institutional confidence.

Bitcoin’s price has surged past $90,000 as investors responded to President Donald Trump’s decision to delay 25% tariffs on Canadian and Mexican auto imports. The move, which grants a one-month exemption, eased concerns about economic disruption and weakened the U.S. dollar, fueling demand for risk assets like cryptocurrencies.

Trump’s decision followed discussions with executives from Ford, General Motors, and Stellantis, as confirmed by White House press secretary Karoline Leavitt. Investors viewed the delay as a sign that tariffs may not severely impact economic stability, leading Bitcoin (BTC) to rise 3.7% over the past 24 hours, surpassing the $90,000 mark.

📈 Bitcoin has rebounded back above $90K as prices have been rollercoastering here in March. There are 50K more wallets on the network than there were a month ago. By size, there are:

🐟 37,390 MORE wallets holding less than 0.1 $BTC
🐬 12,754 MORE wallets holding 0.1 – 100 $BTC… pic.twitter.com/xClRIGa4Rj

— Santiment (@santimentfeed) March 5, 2025

Bitcoin Hits $91K Amid 5% Surge

Tradingview data shows that Bitcoin is trading at $91,612, marking a 5% increase in the last 24 hours. The broader crypto market also gained 2%, reflecting improved risk sentiment. Despite this, the Fear and Greed Index remains in the “Extreme Fear” zone at 25 points, suggesting investors are still cautious about market conditions.

Crypto-related stocks rallied, with Coinbase (COIN) climbing 4% and MicroStrategy (MSTR) surging 12%. Simultaneously, the U.S. dollar index (DXY) dropped to its lowest level since November, a historically bullish signal for BTC. Polymarket data suggests a 40% recession probability, raising questions about the long-term impact of Trump’s tariffs on financial markets.

The global economy faces ongoing challenges, including inflationary pressures, high debt burdens, and the Federal Reserve’s aggressive interest rate policies. Some analysts believe that Trump’s tariff strategy could benefit BTC long-term by accelerating industry shifts, as demonstrated by Honda’s decision to relocate Civic production to Indiana.

Bitcoin Faces $92K Resistance, $70K Support

Mexican billionaire Ricardo Salinas, renowned for his vast investments in telecommunications, media, and finance, has boldly moved into BTC. In a Bloomberg interview, Salinas revealed that 70% of his portfolio is now allocated to Bitcoin-related assets, while the remaining 30% is invested in gold and gold mining stocks.

With an estimated $4 billion Bitcoin position, Salinas joins a growing list of influential figures betting on the cryptocurrency’s potential. His investment underscores increasing institutional confidence in BTC as a hedge against traditional market uncertainties and currency depreciation.

Meanwhile, blockchain analytics firm Santiment reported an expansion in Bitcoin’s network, with an increase in smaller wallet holdings over the past month. However, signs of profit-taking among large holders indicate potential short-term resistance to BTC’s upward trajectory.

Bitcoin’s price action remains centered around critical levels, with $92,000 as a significant resistance point and $70,000 as a key support level. A recent Glassnode report highlighted BTC’s price structure, emphasizing confluence at these thresholds, shaping the broader market outlook, and signaling potential future movements.

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